Chapter 1: Introduction

1.1: Profile and Performance of ICICI Bank

ICICI Bank (Industrial Credit and Investment Corporation of India) is an Indian

multinational banking and financial services company headquartered in Mumbai,
Maharashtra, India, with its registered office in Vadodara.

ICICI Bank Limited, together with its subsidiaries, provides banking and financial
services in India and internationally. It operates through Retail Banking, Wholesale
banking, Treasury, Other Banking, Life Insurance, General Insurance, and Other
Segments. The company offers saving, salary, pension, current, other accounts and
fixed recurring, and security deposits. It also provide home, car, two-wheeler,
personal, gold, and commercial business loans, as well as loans against securities and
other loans, business loans such as working capital finance, term loans, collateral free
loans, loans without financials, finance for importers and exporters, and secured loans
for credit card swipes, as well as loans for new entities, and schools and colleges and
credit, debit, prepaid, travel, and corporate cards. In addition, the company offers life,
health, travel, student medical insurance products, pockets wallet, fixed income
products, investment products such as mutual funds, gold monetization schemes, and
initial public offerings as well as other online investment services, and farmer finance,
tractor loans and micro banking services as well as other services to agri-traders and
processors, and agri-corporates. Further, it provides foreign exchange, locker, trade,
private and NRI banking and cash management services, D-mat accounts, commercial
banking, investment banking as well as internet, mobile, and phone banking. As on
March 31, 2017, it had a network of 4,850 branches and 13,882 ATMs.

ICICI Bank offers a wide range of banking products and financial services to
corporate and retail customers through a variety of delivery channels and through its
specialized subsidiaries and affiliates in the areas of investment banking, life and non-
life insurance, venture capital and asset management. The Bank currently has
subsidiaries in the United Kingdom, Russia and Canada, branches in United States,
Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance
Center and representative offices in United Arab Emirates, China, South Africa,
Bangladesh, Thailand, Malaysia and Indonesia. Our UK subsidiary has established
branches in Belgium and Germany. ICICI Bank’s equity shares are listed in India on
Bombay Stock Exchange and the National Stock Exchange of India Limited and its
American Depositary Receipts (ADRs) are listed on the New York Stock Exchange
(NYSE).
  ICICI GROUP COMPANIES:

ICICI Bank offers a wide range of banking products and financial services to
corporate and retail customers through a variety of delivery channels and through its
group companies.

ICICI Group
http//www.icicigroupcompanies.com

ICICI Prudential Life Insurance Company

http//www.iciciprulife.com/public/default.htm

ICICI Securities
http//www.icicisecurities.com

ICICI Lombard General Insurance Company

http//www.icicilombard.com

ICICI Prudential AMC & Trust

http//www.icicipruamc.com

ICICI Venture
http//www.iciciventure.com

ICICI Direct
http//www.icicidirect.com

ICICI Foundation
http//www.icicifoundation.org

Disha Financial Counselling

http//www.icicifoundation.org

ICICI Bank also has banking subsidiaries in UK and Canada

 BOARD OF DIRECTORS:

ICICI Bank’s Board members include eminent individuals with a wealth of

experience in international business, management consulting, banking and financial
services.

 BOARD MEMBERS: (As on 30 June, 2017)

Mr. M.K.SHARMA, CHAIRMAN Ms. CHANDA KOCHHAR,

MANAGING DIRECTOR AND
CEO

Mr. DILEEP CHOKSI Mr. N.S. KANNAN, EXECUTIVE

DIRECTOR

Mr. HOMI R. KHUSROKHAN Ms. VISHAKHA MULYE,

EXECUTIVE DIRECTOR

Dr. TUSHAAR SHAH Mr. VIJAY CHANDOK,

EXECUTIVE DIRECTOR

Mr. V.K. SHARMA Mr. ANUP BAGCHI, EXECUTIVE

DIRECTOR

Mr. V. SRIDAR

Mr. AMIT AGRAWAL

  BOARD COMMITTEE:

AUDIT COMMITTEE BOARD GOVERNANCE

REMUNERATION AND NOMINATION
COMMIITTEE
MR. HOMI R. KHUROKHAN, CHAIRMAN MR. HOMI R. KHUSROKHAN, CHAIRMAN
MR. DILEEP CHOKSI, ALTERNATE MR. M.K. SHARMA
CHAIRMAN MR. V.K. SHARMA
MR. V. SRIDAR
CORPORATE SOCAIL RESPONSIBILITY CUSTOMER SERVICE COMMITTEE
COMMITTEE

DR. TUSHAR N. SHAH,, CHAIRMAN MR. V. SRIDAR, CHAIRMAN

MS. CHANDA KOCHHAR MS. CHANDA KOCHHAR
MR. DILEEP CHOKSI DR. TUSHAAR SHAH
MR. AMIT AGRAWAL MR. ANUP BAGCHI
CREDIT COMMITTEE FRAUD MONITORING COMMMITTEE

MR. M.K. SHARMA, CHAIRMAN MR. V. SRIDAR, CHAIRMAN

MS. CHANDA KOCHHAR MR. DILEEP CHOKSI
MR. HOMI R. KHUSROKHAN MR. HOMI R. KHUSROKHAN
MS. CHANDA KOCHHAR
MR. ANUP BAGCHI
RISK COMMITTEE SHARE TRANSFER AND
SHAREHOLDER’S/INVESTORS’
GRIEVANCES COMMITTEE

MR. M.K. SHARMA, CHAIRMAN MR. HOMI R. KHUSHROKHAN,

MR. DILEEP CHOKSI CHAIRMAN
MR. V.K. SHARMA MR. V. SRIDAR
MR. HOMI R. KHUSHROKHAN MR. N.S. KANNAN
MR. V. SRIDAR
MS. CHANDA KOCHHAR
COMMITTEE OF EXECUTIVE DIRECTORS INFORMATION TECHNOLOGY
STRATEGY COMMITTEE

MANAGING DIRECTOR AND CEO, MR. HOMI R. KHUSHROKHAN,

CHAIRPERSON CHAIRMAN
ANY TWO INDEPENDENT DIRECTORS MR. V. SRIDAR
MS. CHANDA KOCHHAR
Figure: Geographic areas
1.2 History

ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial
institution, and was its wholly-owned subsidiary. ICICI’s shareholding in ICICI Bank
was reduced to 46% through a public offering of shares in India in fiscal 1998, an
equity offering in the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank’s
acquisition of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001,
and secondary market sales by ICICI to institutional investors in fiscal 2001 and fiscal
2002. ICICI was formed in 1955 at the initiative of the World Bank, the Government
of India and representatives of Indian industry. The principal objective was to create a
development financial institution for providing medium-term and long-term project
financing to Indian businesses.

In the 1990’s ICICI transformed its business from a development financial institution
offering only project finance to a diversified financial services group offering a wide
variety of products and services, both directly and through a number of subsidiaries
and affiliates like ICICI Bank. In 1999, ICICI become the first Indian company and
the first bank and financial institution from non-Japan Asia to be listed on the NYSE.

After consideration of various corporate structuring alternatives in the context of the

emerging competitive scenario in the Indian Banking industry, and move towards
universal banking, the managements of ICICI and ICICI Bank formed the view that
the merger of ICICI with ICICI Bank would be the optimal strategic alternative for
both entities, and would create the optimal legal structure for the ICICI group’s
universal banking strategy. The merger would enhance value for ICICI shareholders
through the merged entity’s access to low-cost deposits, greater opportunities for
earning fee-based income and the ability to participate in the payment system and
provide transaction-banking services.

In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the
merger of ICICI and two of its wholly-owned retail financial subsidiaries, ICICI
Personal Financial Services Limited and ICICI Capital Services Limited with ICICI
Bank. The merger was approved by shareholders of ICICI and ICICI Bank in January
2002, by the High Court of Gujarat at Ahmedabad in March 2002 and by the High
Court of Judicature at Mumbai and the Reserve Bank of India in April 2002.
Consequent to the merger, the ICICI group’s financing and banking operations, both
wholesale and retail, have been integrated in a single entity. ICICI Bank has
formulated a Code of Business Conduct and Ethics for its directors and employees.
ICICI Bank Limited is an Indian diversified financial services company headquartered
in Mumbai, Maharashtra. It is the second largest bank in India by assets and third
largest by market capitalization. It offers a wide range of banking products and
financial services to corporate and retail customers through a variety of delivery
channels and through its specialized subsidiaries in the areas of investment banking,
life and non-life insurance, venture capital and asset management. The Bank has a
network of 2,630 branches and 8,003 ATMs in India, and has a presence in 19
countries, including India. The bank has subsidiaries in the United Kingdom, Russia,
and Canada, branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka,
Qatar and Dubai International Finance Center; and representative offices in United
Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia.
The company’s UK subsidiary has established branches in Belgium and Germany.

ICICI Bank is India’s largest private sector bank. The Industrial Credit and
Investment Corporation of India Limited (ICICI) was incorporated in 1955 at the
initiative of World Bank, the government of India and representatives of Indian
Industry with the objective of creating a development financial institution for
providing medium-term and long-term project financing to Indian businesses. A.
Ramaswami Mudaliar is selected as the first chairman of ICICI Limited. Chanda
Kochhar is currently managing director and CEO of ICICI Bank. Chanda Kochhar has
also consistently figured in fortune’s list of “Most Powerful Women in Business”
since 2005.
1.3 Objective of the Study

The main objective of this project are the following:

 To make a critical analysis of marketing of banking services of ICICI Bank in

India particularly in the Financial Products.

 To evaluate innovative, dynamic and competitive nature of banking services,

particularly in ICICI Bank.

 To assess customer satisfaction with banking services.

 To highlight the problems involved in marketing of banking services of ICICI

Bank.

 To study about Marketing Strategies on Financial Products of ICICI Bank.

 To offer suggestions and measures to solve the problems faced by banks in

marketing their services.
1.4 Feature/ Characteristics:

Banking plays an important role in for their economic growth as well as

currency factor. Majority development of a country depends on the
banking sector as banks maintain the competition between currency of
developed and developing countries.

BANKING involves following characteristics as written:

 DEALING IN MONEY
 ACCEPTANCE OF MONEY DEPOSITES
 PAYMENT AND WITHDRAWS MONEY
 INDIVIDUAL OR COMPANIES
 VARIOUS BRANCHES
 FUNCTION INCREASING RAPIDLY
 IDENTIFICATION
 FACILITIES OF ADVNCES MONEY
 BUSINESS IN BANKING SECTOR
1.5 Customer Relationship Management:

CRM stands for Customer Relationship Management. It is a strategy used to learn

more about customers' needs and behaviors in order to develop stronger relationships
with them. After all, good customer relationships are at the heart of business success.
The more useful way to think about CRM is as a process that will help bring together
lots of pieces of information about customers, sales, marketing effectiveness,
responsiveness and market trends.

The main objectives of this study are To study the satisfaction level of exit customers
of ICICI bank services, To find out the factors which influence to buy the ICICI banks
services, To identify and the study of the problems faced by the customers of ICICI
bank services and To assess of the role of customer relationship management in the
purchase decision of ICICI bank services.

Need of CRM in Banking Industry:

A Relationship-based Marketing approach has the following benefits:

1. Over time, retail bank customers tend to increase their holding of the other
products from across the range of financial products / services available.
2. Long-term customers are more likely to become a referral source.
3. The longer a relationship continues; the better a bank can understand the customer
and his/her needs & preferences, and so greater the opportunity to tailor products and
services and cross-sell the product / service range.
4. Customers in long-term relationships are more comfortable with the service, the
organization, methods and procedures. This helps reduce operating cost and costs
arising out of customer error. With increased number of banks, products and services
and practically nil switching costs, customers are easily switching banks whenever
they find better services and products. Banks are finding it tough to get new
customers, and more importantly, retain existing customers.
The Process of Delivering CRM:

The tools and the processes are as follow –

 Customer application form
 Centralized software where the whole data is collected.
 Wide range of offerings
 Cross – selling
 Feedback forms

CRM at ICICI Bank:

CRM at ICICI Bank involves increased communication between the bank and its
present and prospective customers. Its philosophy focuses on each and every
customer’s satisfaction. CRM facilitated coordination of multiple business functions
& multiple channel of communication with the customers to carry out customer
management more efficiently. It also automated the process flow tracking in the
product sales process and helped generate customized reports and promote cross-
selling.
The typical components of a CRM Strategy at ICICI are as follows:
 Understand and differentiate: Understanding customers is important in
order to develop a sound relationship with them. Customer profiling is done in
order to understand demographics, purchase pattern and channel preference.
CRM also helped ICICI in valuation of its customers to understand customer
profitability and Customer Life Time Value (CLV).
 Develop and customize: In a customer centric business environment, the
products and processes have to be according to customers’ needs and
preferences. ICICI has always focused on developing channels of service
delivery according to customers’ need and service expectation.
 Interact and Deliver: To foster a strong customer relationship ICICI ensured
that all areas of the bank have easy access to relevant, actionable customer
information and employees should be trained on how to use customer
information to tailor interactions based on both customer needs and potential
customer value.
 Acquire and Retain: CRM helped ICICI to figure out valuable customers and
made it easy to formulate retention strategies for them. It also helped it scope
up with the change in customer’s life cycle and offer services accordingly.
Implementing CRM at ICICI Bank:
The key to implementing CRM was in understanding organization and customers in a
better way. There are five interrelated areas that were taken care of before
implementing CRM:
 Business Focus
 Organizational Structure
 Business Metrics
 Marketing Focus and Technology
Business Focus: There are various components of CRM like customer information,
sales, marketing trends and marketing efficacy that acted in tandem to improve
relationship between ICICI and its consumers. ICICI captured customer data and
analyzed them while dealing with customers at these very touch points. A CRM
solution from Siebel was implemented for the automation of customer handling in all
key retail products of the Group. The solution allows customer service agents to track
all customer complaints and requests. It also allows target setting and centralized
tracking of turnaround times for request fulfillment. The solution went live in phases
during fiscal 2002. The Bank has also undertaken a retail data warehouse initiative to
achieve customer integration at the back-office. This central view of the total
customer relationship is being used extensively for identifying opportunities to cross-
sell new products and services to the existing customer base.
Technology Focus: ICICI Bank continues to leverage ICT2 as a strategic tool for its
business operations to gain competitive advantage. Its technology strategy emphasizes
enhanced level of customer services through 24x7 availability, multi-channel banking
and straight through processing, and cost efficiency through optimal use of electronic
channels, wider and focused market reach and opportunities for cross-selling. The
Technology Management Group (TMG) is the focal point for the ICICI Group’s
technology strategy and Group-wide technology initiatives. This group reports
directly to the Managing Director & CEO. A key to ICICI’s success has been its
ability to harness business information to CRM initiatives that have fueled growth and
helped attract more than 30 million customers.
The foundation for ICICI Bank’s wide-ranging CRM programs is a Sybase IQ-based
data warehouse. Developers had used a combination of PL/SQL and BTEQ scripting,
a proprietary technology specific to the data warehouse, for data extraction,
transformation, and loading (ETL). With its growing customer base, IT administrators
recognized that the bank needed a more powerful, sophisticated data integration
system to help ensure the warehouse lived up to its potential as an analytic CRM
engine that delivered tangible bottom-line results.
To step up to the next level of data integration, ICICI Bank officials agreed with a
recommendation from Teradata’s professional services division, which provided
systems integration support for the data warehouse, to implement the Information
Power Center enterprise data integration platform. (The Bank initially used Teradata
as its data warehouse platform and migrated to Sybase IQ a year ago.)

ICICI Bank deployed Power Center in 2003 as it embarked on the next phase of its
warehouse, which would add data from five new sources, in addition to the initial
three sources of retail banking, credit cards, and securities information. The next step
in the CRM implementation process was gap analysis which essentially is assessing
different loopholes in:
 Marketing, sales and service practices
 Collection, capture, processing and deployment of customer information
 Distribution and operations effectiveness at customer touch points.

1.6 Marketing Mix of ICICI:

ICICI Bank is an Indian, Public ltd Company dealing with finance

and banking services. In India, this multinational bank boasts of being the second
largest in relation to market capitalization and its assets. This banking institution was
founded in the year 1994. The bank’s present chairperson is Mr. K.V.Kamath and Ms.
Chanda Kochhar is the CEO and MD. ICICI Bank is determined to improve the
understanding between the employees and the customers for a long-lasting
relationship.

The bank’s objectives includes creation and expansion of private concerns with
modern facilities. It has also taken initiative to ‘Go Green’ in order to create
awareness about environment amongst the people. ICICI Bank has created a platform
that single-handedly gives an option of e-mobile banking, internet banking and IVR
banking under one roof to all its customers.

ICICI Bank has many competitors in the banking arena that motivates them in giving
their best possible services. Some of their chief business rivals are as follows

 State Bank of India

 Bank of Baroda
 Axis Bank
 Bank of Punjab
 HDFC
 Central Bank of India
Product in the marketing mix of ICICI bank

ICICI Bank provides a variety of banking products for all its customers. The

major product of ICICI bank is its excellent customer service. The bank is
known for its 12 hours operation and for it out of the box customer service
initiatives. It has equal focus on retail customers as well as customers belonging
to the corporate world. Their banking products include:

 Consumer banking – It includes a number of deposits like Saving account,

Recurring account, Fixed deposit account, special accounts for senior citizens
and also teenagers.
 Cards – These cards include Credit card, Travel card and Debit card.
 Investment banking – Various options are provided to the customers like Tax
Saving Bonds, Mutual Funds, Foreign Exchange Services and Pure Gold
Investments.
 Loans – This include Personal Loans, Medical Equipment loans, Farm
Equipment Loans, Vehicle Loans and Loans against Securities.
 Finance – Channel finance is one of the strong products which ICICI bank has
in its kitty. Plus there are numerous forms of Finance provided by the bank.
 Corporate banking
 Insurance – ICICI bank is known for its large portfolio of Insurance options.
 Wealth management
 Private banking
 Mortgage loans – Most banks make an amazing amount of revenue from
offering Loans. ICICI has many fail safes in place to ensure that it gives loans
to the better customers only.

In the month of September 2013, ICICI Bank introduced an extraordinary app

on Facebook. This exclusive app named ‘Pockets by ICICI Bank’ assisted its
customers in carrying out a variety of financial transactions through Facebook. Access
to this app was possible by logging in the Facebook account of the customer. After
reaching the desired page, the individual has to complete its online registration with
the help of Debit Card number and the Pin Number.

This app has proved to be a blessing in disguise for customers as it is helpful and
saves ample time. Payments, recharging mobile’s prepaid account, booking tickets at
cinema halls, accessing statements of demat accounts and savings account, opening a
recurring account and upgrading the debit card are some of the possibilities through
this app. This app also allows a group to split and share expenses on Facebook.
Transferring of funds to friends without any bank details is possible over here.

ICICI Bank has added several new products to its portfolio like the ‘My Savings
Reward’ and ‘I Wish’ deposit program. This shows that ICICI bank understand that
for a bank, convenience is one of the major products which they can offer to their
customers. However, convenience comes at a security risk and therefore, ICICI
ensures that it has security fail safes in place to offer these services to customers.
Place in the marketing mix of ICICI bank
ICICI Bank’s operation has spread all over the globe and it has subsidiaries and
branches in 19 countries like Russia, United Kingdom, Canada, Singapore, US, Hong
Kong and Qatar.

In India, ICICI Bank has a huge set-up of 11,162 ATM’s and 3,800 branches. Suitable
places to set up ATM and Branches are shortlisted and then finalized so that services
can be provided to maximum number of people. While setting up such places the
safety and security of both the bank personnel’s and the users is kept in mind.

This places act as a distribution channel for the banking facilities where services are
provided anytime 24*7.The concept of Internet banking and using of technology for
any kind of services is encouraged. All its branches are equipped with modern
facilities. The bank has opened various information centers where all the related
queries can be answered.

ICICI Bank has started the concept of DSA &DST. The direct selling agents and team
of ICICI contacts the customer at his place rather than asking him to come to the
bank. This has helped them in garnering more customers.

Price in the Marketing mix of ICICI bank:

ICICI Bank offers an assortment of financial services to its esteemed customers. It has
a very clear-cut pricing policy. It deals in a competitive market and so it has a policy
that involves improvisation at each level. The bank’s value added strategies are made
keeping in mind and analyzing the customer’s mindset and economic changes
happening in the market. However, when you compare it with PSU’s or even second
tier banks like Kotak Mahindra, then ICICI can clearly be seen as a Premium priced
bank.

ICICI Bank is targeting a great part of the market share because its policy comprises
of revenue through volume. It has also started an aggressive pricing policy that
involves acquisition through low-cost funds. The bank’s main aim is to eliminate
competition in the banking field. The bank offers loans and schemes to attract its
customer. The rates are evaluated at regular periods and changed to suit the needs and
demands of both the bank and the customer.

Under its Evaluating Policy, in 2012 ICICI Bank has introduced a new program ‘My
savings Reward’. In this program, customers are allotted points as rewards for all the
transactions, which are completed through the savings account of the bank. Points are
given automatically for multiple transactions like Internet banking, shopping that is
through online, payment of bills, automatic debiting of saving account for any
monthly installments etc.
Promotions in the Marketing mix of ICICI bank

The promotion strategy of ICICI Bank comprises of direct and indirect

communication to the customers. Besides emphasizing on the modernization of its
banking facilities stress is also laid on the benefits one gets on using the banks
services. The benefit of each product is highlighted so that the clients become
impressed and they are forced to grasp the services of this bank.

Under the promotional strategy, ads have been placed in the print media and famous
personalities have been roped in for visual media. It has been a huge for ICICI Bank
to hire Amitabh Bacchan, the famous actor, in the advertisements. All the ads related
to the bank denote ‘trust’ and this has helped them immensely as trust is a rare
commodity in today’s world.

Promotions are also done through films like Baghban. Technology has been use to its
maximum potential in tracking the customer’s wishes and demands. ICICI
and Amway have formed an alliance for a credit card that can be used
at international level. The bank has also patched with Indian Railways and many
services are provided for the benefit of the customer.

ICICI Bank’s tag line is very appropriate ‘Hum Hain Na’ because it promotes
credibility, trust and financial solutions to every customer. It has been successful in its
endeavor to project a sophisticated image with modern concept.

People in the Marketing mix of ICICI bank:

All people directly or indirectly involved in the consumption of banking services are
a important part of the extended marketing mix. Knowledge Workers, Employees,
Management and other Consumers often add significant value of the total product or
service offering. It is the employees of a bank which represent the organization to its
customers. In a bank organization, employees are essentially the contact personnel
with customer. Therefore, an employee plays an important role in the marketing
operations of a service organization.

To realize its potential in bank marketing, ICICI become conscious in its potential in
internal marketing – the attraction, development, motivation and retention of qualified
employee-customers through need meeting job-products. Internal marketing paves
way for external marketing of services. In internal marketing a variety of activities are
used internally in an active, marketing like manner and in a coordinated way.
The starting point in internal marketing is that the employees are the first internal
market for the organization. The basic objective of internal marketing is to develop
motivated and customer conscious employees. A service company can be only as
good as its people. A service is a performance and it is usually difficult to separate the
performance from the people. If the people don’t meet customers’ expectations, then
neither does the service. Therefore, investing in people quality in service business
means investing in product quality.

Process in the Marketing Mix of ICICI bank:

Flow of activities:

All the major activities of ICICI banks follow RBI guidelines. There has to be
adherence to certain rules and principles in the banking operations. The activities have
been segregated into various departments accordingly.

Standardization:

ICICI bank has got standardized procedures got typical transactions. In fact not only
all the branches of a single-bank, but all the banks have some standardization in them.
This is because of the rules they are subject to. Besides this, each of the banks has its
standard forms, documentations etc. Standardization saves a lot of time behind
individual transaction.

Customization:

There are specialty counters at each branch to deal with customers of a particular
scheme. Besides this the customers can select their deposit period among the available
alternatives. Number of steps: Numbers of steps are usually specified and a specific
pattern is followed to minimize time taken.

Simplicity:

In ICICI banks various functions are segregated. Separate counters exist with clear
indication. Thus a customer wanting to deposit money goes to ‘deposits counter and
does not mingle elsewhere. This makes procedures not only simple but consume less
time. Besides instruction boards in national boards in national and regional language
help the customers further.

Customer involvement:

ATM does not involve any bank employees. Besides, during usual bank transactions,
there is definite customer involvement at some or the other place because of the
money matters and signature requires.
Physical Evidence in the Marketing Mix of ICICI bank:

Physical evidence is the material part of a service. Strictly speaking there are no
physical attributes to a service, so a consumer tends to rely on material cues. There
are many examples of physical evidence, including some of the following:

 Internet/web pages
 Paperwork
 Brochures
 Furnishings
 Business cards
 The building itself

The physical evidences also include signage, reports, punch lines, other tangibles,
employee’s dress code etc.

Signage:

Each and every bank has its logo by which a person can identify the company. Thus
such signage are significant for creating visualization and corporate identity.

Financial reports:

The Company’s financial reports are issued to the customers to emphasis or

credibility.

Tangibles:

Bank gives pens, writing pads to the internal customers. Even the passbooks, cheque
books, etc. reduce the inherent intangibility of services.

Punch lines:

Punch lines or the corporate statement depict the philosophy and attitude of the bank.
Banks have influential punch lines to attract the customers.

Employee’s dress code:

ICICI bank follows a dress code for their internal customers. This helps the customers
to feel the ease and comfort.
1.7 Products and Services of ICICI:

ICICI Bank is India’s largest private sector bank with total consolidated assets of
Rs.11, 242. 81 billion as on March 31, 2018. ICICI Bank was established in 1955 at
the initiative of the World Bank with the objective of creating a developed financial
institution for providing medium-term and long-term project financing to Indian
businesses. ICICI Bank in year 1999 became the first Indian company and the first
bank from non-Japan Asia to be listed on the New York Stock Exchange. In October
2001, ICICI Bank merged with ICICI Personal Financial Services Limited and ICICI
Capital Services Limited.

Deposit Account
1. Savings Account

ICICI Bank offers 9 types of savings accounts to its customers to serve their needs.
Customers can carry out the basic banking transactions easily and earn interest on
their savings as well. 

2. Current Account

ICICI Bank Current Accounts are designed to suit small & mid-sized traders, self-
employed professionals requirements. The bank provides 3 types of current accounts
to its customers.

Loan
1. Home loan
ICICI Bank offers home loan at higher eligibility and lower EMIs at attractive interest
rates to meet customer’s requirements.

2. Personal loan

ICICI Bank provides personal loans up to Rs.20 lakh with attractive interest rates and
tenure up to 7 years.
3. Two wheeler loan
ICICI Bank offers up to 100% loan of on-road price, special finance scheme on
premium bikes and low down-payment schemes to suit the customer’s financial
requirement.

4. Car loan
ICICI Bank offers car loans up to 100% of on-road price of the car. ICICI Bank has
link-up with all major automobile manufacturers to provide the best deals for its
customers.

5. Education loan
ICICI Bank provides education loan up to Rs. 50 lakh and Rs.1 crore for educational
requirements in India and overseas respectively.

6. Gold Loan
The bank provides gold loan for any value from Rs. 10,000 to Rs. 15 lakh with simple
and hassle free documentation process. 

7. Commercial loan
ICICI Bank provides different types of business loans to its customers for
Commercial Vehicle, Construction Equipment loans etc.

8. Pradhan Mantri Mudra Yojana

ICICI Bank provides collateral free loan up to Rs.10 lakh to micro and small
manufacturing and service units. 

Banking
1. Balance Enquiry
ICICI Bank account holders can check their account balance by using missed call
facility, SMS Banking, toll free number, ATM, passbook or by visiting the bank
branch. 

2. Mobile Banking

ICICI Bank mobile banking help customers access their bank account anytime,
anywhere. Customers can check their account balance, make fund transfer and much
more.
3. Net Banking
Using ICICI Bank internet banking facility, account holders can transfer funds, open a
fixed deposit, buy general insurance, pay utility bills and much more.

4. Customer Care
ICICI Bank account holders can call ICICI Bank toll free customer care number to get
information related to various products and get their queries resolved. 

Cards
Credit Card
ICICI Bank offers a variety of credit cards with host of features and benefits that cater
to the needs of different types of customers. Customers can use it for shopping,
entertainment, dining etc. and earn rewards & cashback. 

Debit Card
ICICI Bank lets its customers choose from a range of debit cards according to their
daily withdrawal needs. These debit cards also offer benefits in diverse segments like
entertainment, travel, e-commerce, healthcare and more. 

Investment
Fixed Deposit
Get attractive interest rates and loan against fixed deposit with ICICI Bank.
Customers can avail ICICI Bank Fixed Deposit with a minimum deposit amount of
Rs.10000.

Recurring Deposit
ICICI Bank offers recurring deposit with tenure ranging from 6 months to 10 years.
Customers can get attractive rate of returns and loan against recurring deposit.
1.8 SWOT ANALYSIS OF ICICI BANK:
Strengths in the SWOT analysis of ICICI Bank
 ICICI is the second largest bank in terms of total assets and market share
 Total assets of ICICI is Rs. 4062.34 Billion and recorded a maximum profit
after tax of Rs. 51.51 billion and located in 19 countries
 One of the major strength of ICICI bank according to financial analysts is its
strong and transparent balance sheet
 ICICI bank has first mover advantage in many of the banking and financial
services. ICICI bank is the first bank in India to introduce complete mobile
banking solutions and  jewelry card
 The bank has PAN India presence of around 2,567 branches and 8003 ATM’s
 ICICI bank is the first bank in India to attach life style benefits to banking
services for exclusive purchases and tie-ups with best brands in the industry
such as Nakshatra, Asmi, D’damas etc.
 ICICI bank has the longest working hours and additional services offering at
ATM’s which attracts customers
 Marketing and advertising strategies of ICICI have good reach compared to
other banks in India

Weaknesses in the SWOT analysis of ICICI Bank

 Customer support of ICICI section is not performing well in terms of resolving

complaints
 There are lot of consumer complaints filed against ICICI
 The ICICI bank has the most stringent policies in terms of recovering the
debts and loans, and credit payments. They employ third party agency to handle
recovery management
 There are also complaints of customer assault and abuse while recovering and
the credit payment reminders are sent even before the deadlines which annoys
the customers
 The bank service charges are comparatively higher
 The employees of ICICI are bank in maximum stress because of the
aggressive policies of the management to win ahead in the race. This may result
in less productivity in future years.
Opportunities in the SWOT analysis of ICICI Bank
 Banking sector is expected to grow at a rate of 17% in the next three years
 The concept of saving in banks and investing in financial products is
increasing in rural areas as more than 62% percentage of India’s population is
still in rural areas.
 As per 2010 data in TOI, the total number b-schools in India are more than
1500. This can ensure regular supply of trained human power in financial
products and banking services
 Within next four years ICICI bank is planning to open 1500 new branches
 Small and non performing banks can be acquired by ICICI because of its
financial strength
 ICICI bank is expected to have 20% credit growth in the coming years.
 ICICI bank has the minimum amount of non-performing assets.

Threats in the SWOT analysis of ICICI Bank

 RBI allowed foreign banks to invest up to 74% in Indian banking
 Government sector banks are in urge of modernizing the capacities to ensure
the customers switching to new age banks are minimized
 HDFC is the major competitor for ICICI, and other upcoming banks
like AXIS, HSBC impose a major threat
 In rural areas the micro financing groups hold a major share
 Though customer acquisition is high on one side, the unsatisfied customers are
increasing and make them to switch to other banks
1.9 Vision and Mission of ICICI Bank:

VISION:

 To ensure most cost effective power for sustained growth of India.

 To provide clean and green power for secured future of countrymen.
 Constituent associates & stakeholders.
 To continuously upgrade & update knowledge & skill set of its human
resources.
 To achieve excellence in every activity we undertake.

MISSION:

 We will leverage our people, technology, speed and financial capital to: 
 Expand the frontiers of our business globally. 
 Play a proactive role in the full realization of India’s potential. 
 Maintain high standards of governance and ethics. 
 Create value for our stakeholders.
 To ensure most cost effective power for sustained growth of India.
 To provide clean and green power for second future of country
 To achieve excellence in every activity we undertake.
Chapter 2: Review of Literature
This section deals with the gist of the available literature related to CRM and Service
Marketing of ICICI Bank written by both national and international authors and
published in research journals, magazines, white papers, bulletins, books, etc.
Alok Mittal, (2003) presented an article on “An exploratory study of CRM orientation
among Bank employees”. The paper aimed at exploring the aspects of the CRM
orientation among banks employees of both the public and the private sector banks.
The findings of the research highlighted that there is need for improvement on some
of the components of the CRM such as customer communication, customer
orientation, customer care and handling of complaints in both public and private
sector banks. The aged employees in the public and private banking institutions need
to improve their CRM skills in order to complete with their younger counterparts.
Tapan, (2003) in his article “creating customer life time value through CRM in
financial services industry”, has stressed the importance of the CRM in financial
services industry. Customer data management gives clues about the probability of
customer demand and technology helps in tracking the characteristics and
categorization of customers depending on their past behavior. He concluded that with
increased competition and customers moving very fast from firm to firm another, it is
essential to have an integrated CRM strategy across the whole organization for
generating higher customer life-time value.
Robert A-Robin C.(1996) in his journal customer relationship management is an
integrated effort to identify maintain and build a network individual/ customers and to
continuously strengthen the network for the benefit of the both and sides thought
interactive, individual and value added contacts over a long period of time. Philip
Kotler 1997 in his studying customer relationship is management of the process of
building long term, trusting and win – win relationship with customers’ distributors’
dealers and suppliers.
Peter Drucker (2000) which emphasizes ―Customer Relationship Management is
basic purpose of an organization is to create customers and retain them.
Morgan and Hunt (2003) concluded that customer relationship management is all
marketing efforts directed to words establishing, developing and maintaining
successful relational exchanges.
Moller and Wilson (2008) denotes that customer relationship is about understating,
creating and managing exchange relationship between economics partners,
manufactures, service providers, various channel member and finally customers.
Chapter 3: Research Methodology:
This Chapter concentrates on the research methodology. The research design,
sampling design, data collection method, tools applied for the study geographical
coverage. The procedure adopted for conducting the research requires a lot of
attention as it has direct bearing on accuracy, reliability and adequacy of results
obtained. It is due to this reason that research methodology, which we used at the time
of conducting the research, needs to be elaborated upon. It may be understood as a
science of studying how research is done scientifically. So, the research methodology
not only talks about the research methods but also considers the logic behind the
method used in the context of the research study. Research Methodology is a way to
systematically study and solve the research problems. If a researcher wants to claim
his study as a good study, he must clearly state the methodology adapted in
conducting the research the research so that it may be judged by the reader whether
the methodology of work done is sound or not.

3.1 Meaning of Research:

Research is defined as “a scientific and systematic search for pertinent information on
a specific topic”. Research is an art of scientific investigation. Research is a
systematized effort to gain now knowledge. It is a careful investigation or inquiry
especially through search for new facts in any branch of knowledge. Research is an
academic activity and this term should be used in a technical sense. Research
comprises defining and redefining problems, formulating hypothesis or suggested
solutions. Making deductions and reaching conclusions to determine whether they if
the formulating hypothesis. Research is thus, an original contribution to the existing
stock of knowledge making for its advancement. The search for knowledge through
objective and systematic method of finding solutions to a problem is research.

3.2 Research Objectives:

 To make a critical analysis of marketing of banking services of ICICI Bank in
India particularly in the Financial Products.
 To evaluate innovative, dynamic and competitive nature of banking services,
particularly in ICICI Bank
 To assess customer satisfaction with banking services.
 To highlight the problems involved in marketing of banking services of ICICI
Bank.
 To study about Marketing Strategies on Financial Products of ICICI Bank.
 To offer suggestions and measures to solve the problems faced by banks in
marketing their services.
3.3 Research design:

A research designs is the arrangement of conditions for collection and analysis data in
a manner that aims to combine relevance to the research purpose with economy in
procedure. Research Design is the conceptual structure with in which research in
conducted. It constitutes the blueprint for the collection measurement and analysis of
data. Research Design includes and outline of what the researcher will do form
writing the hypothesis and it operational implication to the final analysis of data. A
research design is a framework for the study and is used as guide in collection and
analyzing the data. It is a strategy specifying which approach will be used for
gathering and analyzing the data. It also include the time and cost budget since most
studies are done under these two cost budget since most studies are done under theses
tow constraints. The design is such studies must be rigid and not flexible and most
focus attention on the following:

 What is the study about?

 Why is the study being made?
 Where will the study be carried out?
 What type of data is required?
 Where can be required data be found?
 What period of time will the study include?
 What will be sample design?
 What techniques of data collection will be used?
 How will the data be analyzed?
 In what style will the report be prepared?

TYPES OF RESEARCH DESIGN:
 EXPERIMENTAL RESEARCH DESIGN
 EXPLORATORY RESEARCH DESIGN
 DESCRIPTIVE RESEARCH AND
 DIAGNOSTIC RESEARCH

Exploratory Research Design: This research design is preferred when researcher

has a vague idea about the problem the researcher has to explore the subject.
Experimental Research Design: The research design is used to provide a strong
basis for the existence of casual relationship between two or more variables.
Descriptive Research Design: It seeks to determine the answers to who, what,
where, when and how questions. It is based on some previous understanding of
the matter.
Diagnostic Research Design: It determines the frequency with which something
occurs or its association with something else.
3.4 Research Design Used in the Study:

Descriptive research design is used in this study because it will ensure the
minimization of bias and maximization of reliability of data collected. Descriptive
study is based on some previous understanding of the topic. Research has got a very
specific objective and clear cut data requirements. The researcher had to use fact and
information already available through financial statements of earlier years and analyse
these to make critical evaluation of the available material. Hence by making the type
of the research conducted to be both Descriptive and Analytical in nature. From the
study, the type of data to be collected and the procedure to be used for this purpose
were decided.

3.5 Sampling Method:

Convenience sampling method is used for the survey of this project. It is a non-
probability sample. This is the least reliable design but normally the cheapest and
easiest to conduct .In this method Researcher have the freedom to choose whomever
they find, thus the name convenience. Example includes informal pools of friends and
neighbors or people responding to a newspaper’s invitation for readers to state their
position on some public issue.

3.6 Sampling size:

Sample size denotes the number of elements selected for the study. For the present
study, 50 respondents were selected at random. All the 50 respondents were the
customers of different branches of ICICI Bank.

3.7 Data Collection Method:

The process of data collection begins after a research problem has been defined and
research design has been chalked out. There are two types of data:
Primary Data: It is first hand data, which is collected by researcher itself. Primary
data is collected by various approaches so as to get a precise, accurate, realistic and
relevant data. The main tool in gathering primary data was investigation and
observation. It was achieved by a direct approach and observation from the officials
of the company.

Secondary Data: It is the data which is already collected by someone else.

Researcher has to analyze the data and interprets the result. It has always been
important for the completion of any report. It provides reliable, suitable, adequate and
specific knowledge.
Type of Data Used in the Study:
This section discusses the techniques of gathering primary data for the testing of the
research propositions that were crafted in Chapter I and II. The choice of the data
instruments depends on the availability of facilities, time, costs, the degree of
accuracy required, the expertise of the researcher, and other resources associated with
the gathering of the data. The questionnaire was given to the respondent directly by
the students and was collected later as per respondents preference as to giving filling
the preprinted form.
 How long have you been customer of the ICICI Bank

18

15
13

less than a year 1-4 years 4-7 years more than 10years

Chapter 4: Data Analysis and Interpretation:

1. How long have you been customer of the ICICI bank?

No of Years No of Respondent
Less than a year 13
1-4 years 18
4-7 years 15
More than 7 years 4
Total 50

Interpretation:
From the above graph it is clear that majority of the respondents are part of the ICICI
bank from 1-4 years i.e.36%; 30% of the respondents are part of the ICICI bank from
4-7 years; 26% respondent from less than a year and remaining 8% respondent are
part of the ICICI bank form more than 7 years.
2. Do you always get the prompt services whenever you visit the ICICI
Bank branch?

No of Respondents Percentage
Strongly agree 23 46%
Agree 17 34%
Neither agree nor 7 14%
disagree
Disagree 2 4%
Strongly disagree 1 2%
Total 50 100%

Do you always get the prompt services whenever you

visit the ICICI Bank branch
2%
4%

Strongly agree
14%
Agree
Neither agree nor disagree
Disagree
46% Strongly disagree

34%

Interpretation:

From the above graph it is clear that majority of the respondents get timely and quick
services by the ICICI bank i.e.46%; 34% of the respondents seem to be just satisfied;
14% respondent are neither happy nor have any problem and remaining 6%
respondent are dissatisfied with respect to get late services from the ICICI bank.
3. Do you agree that the procedure to open an account with the ICICI
Bank is difficult?

No of Respondents
Strongly agree 0
Agree 1
Neither agree nor disagree 5
Disagree 19
Strongly disagree 25
Total 50

Do you agree that the procedure to open an account

with the ICICI Bank is diffficult
25

19

0
Strongly agree 1
Agree Neither agree nor Disagree Strongly disagree
disagree

Interpretation:
From the above graph it is clear that 3/4th of the respondents doesn’t face any
problem in the process of opening a new account; 10% respondent are neither happy
nor have any problem and remaining 2% respondent are dissatisfied with the
procedure of opening a new account in the ICICI bank.